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Steven Hennessy

Retirement, Small Business, Insurance
“Steve Hennessy, an independent financial advisor in Miami, Florida since 1982, is dedicated to helping his clients with their retirement, small business planning, and life insurance.”

Trinity Financial Services

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Steve Hennessy is the founder and President of Trinity Financial Services located in Miami, Florida. Steve is an independent financial advisor, helping people for 34 years to protect their assets, invest wisely, and plan for a worry-free retirement. As a result of his planning strategies, his clients are well educated and confident of their financial future. Steve is also a certified educator with the American Financial Education Alliance (a 501c3 non-profit organization), offering a wide range of financial education workshops designed to help people take control of their finances. Steve is currently licensed in the states of Florida, North Carolina, and South Carolina.

Steve graduated from the University of Florida in 1969 with a degree in Business Management and Finance. Upon graduating, Steve served as a U.S. Army Signal Officer during the Vietnam era, and eventually retired as a Lieutenant Colonel in the Army Reserves. He continued his education and received his MBA from Florida International University in 1985. He began his career as a financial advisor and registered representative in 1982, building his business with such companies as New England Life, Mutual of New York, Transamerica and John Hancock. Steve received his Life Underwriter Training certification (LUTCF) in 1986 to broaden his professional education in life insurance, annuities, disability income insurance, and long term care insurance.

Each year, Steve educates area residents by holding public and private educational seminars. The topics include: safe investment alternatives, protecting yourself from market losses, avoiding probate, the ABCs of conservative investing, securing long term care protection to help enjoy retirement, and much more. Steve is a resident of Palmetto Bay, Florida, a suburb of Miami, and has been happily married to his wife Donna for over 31 years. Together they have a grown daughter, Laurelle, age 31 and a beautiful, energetic 4 year old grandson named Carson.


BS, Management and Finance, University of Florida
MBA, Finance, Florida International University

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    Taxes, Insurance
How are life insurance proceeds taxed?
82% of people found this answer helpful

Great news...life insurance proceeds payable to a named beneficiary (a real person) is free of federal income tax. So, 100% of the benefit is free.

However, if the life insurance death benefit is paid in installments instead of a lump sum, the interest portion (if any) is taxable. The principal is tax-free.

The insurance proceeds may be included in the taxable estate of the owner. Not to worry, though...the estate tax exclusion is over $5.3 million. So, estate taxes is a mute point for most people. Only if the net taxable estate (after certain deductions) is over $5.3 million would the family have to worry about estate taxes.

Good luck!

January 2017
    Social Security
What is the maximum I can receive from my Social Security retirement benefit?
75% of people found this answer helpful
August 2016
    Insurance, Life Insurance
What is the difference between term and universal life insurance?
65% of people found this answer helpful
March 2018
    Financial Planning, Retirement, Investing, Real Estate, Women & Money
How should I invest the $200,000 I received from the sale of my house?
57% of people found this answer helpful
August 2018
    Financial Planning, Retirement, Pensions
Which should I take, a monthly pension or lump sum buyout?
50% of people found this answer helpful
August 2016